RICHMOND, Va. (AP) -- A Chinese paper maker is planning to invest $2 billion over five years to open a facility in Chesterfield County, creating 2,000 jobs.
Gov. Terry McAuliffe announced the plans by Shandong Tranlin Paper Co. Ltd. on Wednesday.
Officials say the company's first U.S. advanced manufacturing operation on an 850-acre campus will be in the paper and fertilizer sectors.
The company founded in 1976 sells products throughout China and exports to the U.S., Europe, Japan and South Korea. Its products include refined natural pulp, natural paper, food and medical packaging box and organic fertilizers.
McAuliffe approved a $5 million grant from the Governor's Opportunity Fund for the project. The company also may be eligible to receive a performance grant.
Virginia successfully competed against several states for the project.
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